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Long-term Trends in the US Economy A pluralist analysis

Alan Freeman Association for Heterodox Economics. Long-term Trends in the US Economy A pluralist analysis. www.academia.edu/AlanFreeman. Pluralism and data interpretation. The long-run decline of the US profit rate. The problem of interpretation. The problem of interpretation.

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Long-term Trends in the US Economy A pluralist analysis

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  1. Alan Freeman Association for Heterodox Economics Long-term Trends in the US EconomyA pluralist analysis www.academia.edu/AlanFreeman

  2. Pluralism and data interpretation

  3. The long-run decline of the US profit rate

  4. The problem of interpretation

  5. The problem of interpretation Dumenil-Levy (et al?) interpretation

  6. US real GDP Growth

  7. Postwar cycles and growth

  8. Growth, revisited

  9. An ordinary crash?US jobs lost in the first 12 months of postwar business cycles

  10. Employment rate in postwar cycles Source: Bureau of Labour Statistics CES (payroll jobs)

  11. Permanent underemployment

  12. Institutionalised overcapacity

  13. Theory: the historical dimension

  14. Exactly how did the US exit from the Great Depression?

  15. Parallels? Components of decline

  16. Contribution to GDP change 2008-

  17. Catching coldwhat do US economic problems mean for the world?

  18. The US and the world Annual growth of real GDP in constant US$

  19. Sources and acknowledgements • Alan Freeman’s data http://hetecon.academia.edu/documents/0044/9171/Source_Data_for_Freeman_Calculations_on_the_US_profit_rate.xls • Inequality UNCTAD:http://stats.unctad.org/Handbook/TableViewer/tableView.aspx • Food Prices FAOSTAT http://faostat.fao.org • Radhika Desai http://umanitoba.academia.edu/RadhikaDesai • Andrew Kliman http://akliman.squarespace.com/my-cv/ • John Ross http://ablog.typepad.com/keytrendsinglobalisation/ • JayatiGhosh, Macroscan: http://www.macroscan.org/ • PrabhatPatnaik ‘Neoliberalism and the Food Crisis’, IDEAS website • ‘Future of World Capitalism’ book series www.radicaldemon.org • Van Giezen, R. and Albert Schwenk (2003) ‘Compensation from before World War I through the Great Depression’ www.bea.gov

  20. Pre- and Post-’globalisation’ growth

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